According to an official statement
issued by the Ministry, India imported about 13 percent of its crude oil
requirements from Iraq last year, while in the current fiscal, public
sector oil companies had planned to import 19.4 million tonnes (about 20
percent of their requirement) of crude oil from Iraq.
Pradhan noted that crude supplies to India from Iraq come from the
Basra oilfields which are situated well away from the conflict zone in
the north-eastern part of Iraq and loading of ships, including by the
two PSUs (Indian Oil Corp and Hindustan Petroleum Corp), from the Basra
oil terminal, continues normally.
Against 18.7 million tonnes of crude oil imports planned by IOCL and
HPCL in 2014, 50 percent of the contracted quantity has already been
lifted.
Pradhan asked oil firms to prepare a contingency plan for the short
and medium term by tying up supplies from other sources in case oil from
Iraq is disrupted.
In the meeting with senior ministry officials and oil firms, it was
confirmed that there is no possibility of supply disruption at present
and adequate supply of petroleum products throughout the country would
be maintained.
Source: News in Hindi
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